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Is your life insurance keeping up with your life?

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Presentation on theme: "Is your life insurance keeping up with your life?"— Presentation transcript:

1 Is your life insurance keeping up with your life?
Presented by: The Retirement Group Is your life insurance keeping up with your life? Welcome! Allianz Life Insurance Company of North America Registered Representative of and Securities offered through QA3 Financial, Member FINRA/SIPC. Investment Advisor Representative of and Advisory Services offered through The Retirement Group, LLC. The Retirement Group, LLC and QA3 Financial are not affiliated companies. M-3982

2 Agenda First things first.
Is your life insurance keeping up with your life? How a policy review works. Reviewing the information. You have options. Life moves pretty fast. Make sure your insurance is keeping pace. Presenter will read slide.

3 First things first. Presenter will read slide.

4 Why have life insurance?
First things first. Why have life insurance? Before we look at your options, first let’s quickly review why you need life insurance. Life insurance provides a death benefit. Some policies provide you an accumulation value. Consider the potential tax advantages. Why have life insurance? -Before we look at your options, first let’s quickly review why you need life insurance. Life insurance provides a death benefit. -First and foremost, life insurance can give you the reassurance of knowing that, after you’re gone, the people you care about will be taken care of. Some policies give you accumulation potential. -Some types of life insurance policies can go beyond providing a death benefit by offering you potential accumulation. As you think about your financial goals, consider the role life insurance can play in your overall financial strategy. Consider the potential tax advantages. -Your policy’s accumulation value grows tax-deferred, which may help it grow faster. For example, the portion of your premium that is applied to the accumulation value is invested by the insurance company or at your directions depending upon the type of policy. Any positive growth increase the accumulation value and is not subject to taxes on until you withdraw the cash value or cancel (surrender) the policy. In some situation it is possible to withdraw the cash value and not be subject to income tax on the withdrawal. And if your beneficiaries should receive a death benefit down the road, they won’t have to pay taxes on the proceeds from your policy. These are only a few of the benefits of life insurance. Now, let’s see why you should consider a life insurance policy review.

5 Is your life insurance keeping up with your life?
Presenter will read slide.

6 Is your life insurance keeping up with your life?
With all the demands on your time, you probably don’t give your life insurance much thought. Are you sure it still meets your needs? Maybe it’s time for a life insurance policy review. With all the demands on your time, you probably don’t give your life insurance much thought. Are you sure it still meets your needs? Maybe it’s time for a life insurance policy review.

7 Is your life insurance keeping up with your life?
If you haven’t taken a careful look at your life insurance lately, you could be: Leaving an inadequate death benefit to your beneficiaries. Risking a policy lapse because of growing fees and/or cost of insurance. Missing an opportunity to make your policy part of your overall financial strategy. A policy review can help you find – and fix – any pitfalls, before they become a problem. The goal of a policy review isn’t to sell you a new product. Rather, it’s intended to make sure your current policy still meets your needs. If you haven’t taken a careful look at your life insurance policy lately, you could be: • Leaving an inadequate death benefit for your beneficiaries • Risking a policy lapse because of growing fees and/or cost of insurance • Missing an opportunity to make your policy part of your overall financial plan Also, if you’ve held your policy for more than 10 years, inflation may have eroded the value of your policy’s death benefit. If you bought a policy with a $100,000 face value in 1987, for example, it won’t offer as much protection for your beneficiaries today as it would have back then. A policy review can help you find – and fix – any pitfalls, before they become a problem.

8 How a policy review works.
Presenter will read slide.

9 How a policy review works.
It’s as simple as meeting with your financial professional and answering a few questions. Your financial professional may ask about: Your beneficiaries Your family Your finances Financial obligations Changes in your medical history It’s as simple as meeting with your financial professional and answering a few questions. To make an accurate assessment of your current coverage and needs, your financial professional will need some information. He or she will ask your permission to run some illustrations of how your current policy is performing. Your financial professional may also ask questions about: Your beneficiaries First and foremost, you have life insurance to provide a death benefit for your beneficiaries. They can use this to pay off any outstanding debt, to help fund their children’s education or many other options. Your financial professional will make sure there haven’t been any changes since you designated your beneficiaries. Your family Since you purchased your policy, have you had children, gotten married or divorced, or started caring for an elderly family member? Your finances Copy: If you’ve recently switched jobs, gotten a raise, started a business, or had any other change in your income, it may affect how much insurance you need. Financial obligations Have you recently sold or bought a house, or refinanced your mortgage? Your financial obligations also play a role in determining how much insurance you need. Changes in your medical history If your health has changed dramatically – for the better, or the worse – it may affect your life insurance rates. Tell your financial professional about any recent changes.

10 Reviewing the information.
Presenter will read slide.

11 Reviewing the information.
After your financial professional has gathered and analyzed your information, he or she will meet with you again to go over the findings, and perhaps to offer some recommendations. At this meeting you’ll find out: How long your policy will continue to stay in force, even under the worst possible circumstances. How much premium is required to make sure your death benefit lasts for the rest of your life. Whether your life insurance appears to be adequate, given your needs. After your financial professional has gathered and analyzed your information, he or she will meet with you again to go over the findings, and perhaps to offer some recommendations. At this meeting, you’ll find out: • How long your policy will continue to stay in force, even under the worst possible circumstances • How much premium is required to make sure your death benefit lasts for the rest of your life • Whether your life insurance appears to be adequate, given your needs Your policy review may determine that your current policy meets your needs, and no further action will be required. Or, you and your financial professional may discover a gap in coverage. If that’s the case, your financial professional will talk to you about your options.

12 You have options.

13 You have options. Depending on your current coverage and projected needs, your financial professional may identify a need for additional (or different) life insurance. Here are some of the most common types: Term insurance Whole life Universal life Fixed index universal life [Summarize slide]

14 You have options. Term insurance Benefits of term insurance:
Level premiums and death benefit for a specific time Optional riders1 (ROP, child, spouse, etc.) Comparatively lower cost/premium Term policies provide life insurance coverage for a specific period of time. If you buy a 20-year term policy and live to the end of the term, for example, the policy will terminate. Term policies offer the advantage of level premium. Term policies also have comparatively lower cost/premium compared to other types of life insurance. Some also offer options to renew at the end of the term, or special features such as a return-of-premium riders (these features may vary by product, and are available at extra cost). 1Riders may be available at an additional cost and subject to state approval.

15 You have options. Whole life Benefits of whole life:
Level premiums and death benefit Permanent coverage Potential for cash value accumulation and access1 Whole life insurance is similar to a term policy, because it offers the predictability of level premium payments. But, unlike term insurance, whole life policies provide coverage for your entire life (instead of a set term). Whole life policies also have a cash value that you may be able to access under certain circumstances.1 1Please note that loans and withdrawals may be subject to regular income tax, and if taken prior to age 59½, a 10% federal tax penalty may apply. Policy loans will reduce available cash values and death benefits, and may cause the policy to lapse or affect any guarantees against lapse. Additional premium payments may be required to keep the policy in force. In the event of a lapse, outstanding policy loans in excess of un-recovered cost basis will be subject to ordinary income tax.

16 You have options. Universal life Benefits of universal life:
Flexible premiums and death benefits Permanent coverage Opportunity for cash value growth and access1 Like whole life, universal life insurance also provides coverage for your entire lifetime. But, unlike whole life insurance, universal life offers you the flexibility to pay your premiums at any time and in any amount (subject to some limits), as long as the policy expenses and cost of coverage are met. Universal life policies also have a cash value that can grow at a declared interest rate, and which you may be able to access under certain circumstances.1 1Please note that loans and withdrawals may be subject to regular income tax, and if taken prior to age 59½, a 10% federal tax penalty may apply. Policy loans will reduce available cash values and death benefits, and may cause the policy to lapse or affect any guarantees against lapse. Additional premium payments may be required to keep the policy in force. In the event of a lapse, outstanding policy loans in excess of un-recovered cost basis will be subject to ordinary income tax.

17 Fixed index universal life
You have options. Fixed index universal life Benefits of fixed index universal life: Indexed interest, for potential accumulation Access to your policy’s cash value1 Optional riders for customizable coverage Fixed index universal life (FIUL) insurance works the same way as a universal life policy, but with the addition of potential indexed interest. Indexed interest is credited based on changes in an external index or indexes, which you choose when you buy the policy. Your policy’s cash value can grow tax-deferred, and you can access this value through loans or withdrawals.1 1Please note that loans and withdrawals may be subject to regular income tax, and if taken prior to age 59½, a 10% federal tax penalty may apply. Policy loans will reduce available cash values and death benefits, and may cause the policy to lapse or affect any guarantees against lapse. Additional premium payments may be required to keep the policy in force. In the event of a lapse, outstanding policy loans in excess of un-recovered cost basis will be subject to ordinary income tax.

18 Life moves pretty fast. Make sure your insurance is keeping pace.
Presenter will read slide.

19 Life moves pretty fast. Make sure your insurance is keeping pace.
A policy review can help you find – and fix – any gaps in coverage, before they become a problem. A policy review will take only a few minutes, but it could make a big difference for you – and your beneficiaries – for years to come. Call your financial professional today and ask to schedule a policy review. Read slide Neither Allianz Life Insurance Company of North America nor any of its representatives or affiliates provide tax or legal advice. You are encouraged to consult with your tax advisor or attorney. Issued by Allianz Life Insurance Company of North America, 5701 Golden Hills Drive, Minneapolis, MN Product availability and features may vary by state.

20 Allianz. Financial solutions from A to Z.
Presenter will read slide.

21 Allianz. Financial Solutions from A to Z.
80 million customers worldwide in 70 countries 14th largest company1 2nd largest company in the insurance industry1 5th largest money manager2 We are part of Allianz SE, one of the world’s largest integrated financial services organizations. How Large? More than 80 million customers around the globe choose companies owned by Allianz SE for insurance, asset management, and banking services. Founded in 1890 in Germany, Allianz spans more than 70 countries and employs more than 177,000 people …. Allianz SE stands out: They are the 2nd Largest company in the insurance industry in the world, the 5th largest money manager in the world, the 14th largest corporation in the world. 1 “Forbes Global 2000,” Forbes, April 21, Forbes’ ranking is based on a composite of sales, profits, assets, and market value. 2 “The P&I/Watson Wyatt 500: World’s Largest Managers,” Pensions & Investments, October 1, 2007 (www.pionline.com).

22 Allianz. Financial Solutions from A to Z.
Provider of annuities, life insurance, and long term care insurance 1.2 million customers A.M. Best: A (Excellent) As a leading provider of annuities, life insurance, and long term care insurance, Allianz Life Insurance Company of North America has more than 1.2 million customers and has been rated A (Excellent) by A.M. Best. Guarantees are backed solely by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America, the issuing company. The A.M. Best rating of A (Excellent) is the 3rd highest out of 16 possible ratings, and is effective as of October 4, 2007. These independent agency ratings are based on an analysis of financial results and evaluation of management objectives and strategies. The ratings do not indicate approval by the analysts and are subject to change.

23 Allianz. Financial Solutions from A to Z.
Allianz Global Investors PIMCO Nicholas-Applegate Capital Management Oppenheimer Capital Fireman’s Fund We’re proud to be associated with the other Allianz companies in North America, including Fireman's Fund® and Allianz Global Investors. Fireman's Fund has been selling insurance for more than 140 years, and Allianz Global Investors is a network of companies that includes: PIMCO, Nicholas-Applegate Capital Management, and Oppenheimer Capital.

24 Get the reassurance of knowing you’re covered
Get the reassurance of knowing you’re covered. Ask your financial professional for a policy review. Read Slide Thank you! Registered Representative of and Securities offered through QA3 Financial, Member FINRA/SIPC. Investment Advisor Representative of and Advisory Services offered through The Retirement Group, LLC. The Retirement Group, LLC and QA3 Financial are not affiliated companies. M-3982


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